Same with Denafrips. I run Terminator II via Hermes DDC and I2S. I had same impression as you on standalone Gustard.
Gustard R26 finally excels via I2S input!
I'm on the lookout for a long-term choice of DAC. I'm trying to find a good DAC, not too expensive, with a promising sound, and then have Igor Kuznetsoff mod it.
I heard great things about the Gustard R26 and bought one a few weeks ago. I fed it from an Aurender N100 through the USB input. It seemed sleepy, not exciting, not compelling, especially compared to other high end DACs I've been listening to lately (all of them more expensive than the R26).
Then I got a PS Audio DirectStream DAC Mk. 1 at a good price, and it had a more interesting and refined sound than the R26. But living with it for a couple weeks, I couldn't shake the feeling it was leaving me cold, ultimately. I tried a bunch of configurations, such as different inputs or different firmware.
I heard that the PS Audio really shines through the I2S input. I had to get a DDC (Digital-to-digital convertor) to go from USB to I2S. The one I chose was a Gustard U18. I also needed to choose an HDMI cable. I chose the Transparent HDMI.
So the PS Audio sounded better through I2S but there was something wrong with the sound still. Different cables and firmware setting pushed around the sound to different things, but all of them ultimately felt analytical and not musical.
Then I thought, wait a minute... the R26 has an I2S input which is compatible with the U18... let's try that.
Wow! So much better than the USB input. It's not sleepy at all and has good microdynamic resolution, compelling quiet notes, and toe-tappingness, not to mention good macro-dynamics.
The piano leading edges are a touch hardened, but Igor's mod can probably fix that. I think this is the DAC I'm keeping. Unfortunately this is a more expensive solution as it requires the purchase of the U18 and a good HDMI cable, as well as having Igor do some upgrades to the U18.
But at least it doesn't seem to need an external 10Mhz clock. I know people on the forums who've spend many times more on the clock and cables around the R26 than the R26 itself.